Gottfried, Yeah - The lack of analyst coverage was one of several points I made in a recent e-mail to IR. I followed up with a voicemail to the CFO, but this time he never returned my call. I suspect the standard blackout period and the reg FD concerns were the reasons why, but it would have been considerate to at least tell me that.
It's been clear that WMAR would be impacted by the economy and resulting poor holiday sales. I thought this was being reflected when the price was testing lifetime lows. I was surprised when we broke through and moved through the fives and into the fours. Unfortunately, I was adding all the way down. I think it was you who stated that when FA and TA collide, stick with TA. I wish I had listened.
I did listen to the CC and am concerned going forward. It appears they took this slowdown warning opportunity to air their dirty laundry with the vendor receivables issue. I expect possible future press releases about layoffs and store closings (IMO of course). The bottom line: I simply thought WMAR had more value than this. I would have never expected to see $3 on my screen. In any case, we sold our entire position at the open yesterday and took a major loss. It was painful, but at least we recorded sales at $4 and above. I may be buying again, but I think I'll reassess and watch for awhile.
It's kind of funny, I've been safely and successfully avoiding the techs for some time now, trying to time a reentry point. It figures I would get sunk by an old economy stock.
Well, I've got to run. I need to get over to West Marine and return some expensive Christmas gifts. It appears I've overspent. BTW, do you know where the closest K-Mart is? <g>
Regards - Dale |
